Section Image

National Housing Market

By Erika Ludvigsen

Home sales rise as inventory grows and price gains stay modest

Home sales increased from a year earlier in June, while inventory continued to expand and price growth remained limited.

Sales strengthen despite affordability challenges

About 365,000 homes were sold in June, up 6.1% year over year. Sales also rose from May, following typical seasonal patterns as the market moved into the summer buying season.

The increase in home sales suggests that buyers are becoming more willing to navigate elevated mortgage rates and home prices, even as affordability remains a challenge. Activity improved in many markets, though gains were not uniform across the country. Some metros saw stronger growth, while others remained softer, pointing to uneven demand even as the overall trend moved higher.

Inventory growth gives buyers more options

There were approximately 1.41 million homes for sale nationwide in June, up 4.2% from a year earlier. Inventory also rose month over month, continuing the steady buildup in supply seen this year.

With more homes available, buyers are gaining additional choices and negotiating power in some markets, while sellers are facing more competition for attention. Even so, supply levels still vary widely by location, and many areas remain tighter than normal despite the recent gains. The number of homes listed for sale increased especially strongly in several Midwestern markets, including Minneapolis, Minnesota; Columbus, Ohio, and Saint Louis, Missouri, but declined sharply in a few markets, including Jacksonville, Florida, and San Francisco.

Sale prices remain stable as markets diverge

The median home sale price reached $401,000 in June, up 1.5% from a year earlier. Prices also edged higher from May, reflecting limited upward pressure overall. The fact that prices grew only modestly even as sales strengthened suggests that rising inventory is helping offset upward pressure on prices. Single family homes saw somewhat firmer gains than townhomes and condos, but increases remained modest across property types.

Conditions continue to vary significantly across local markets. Chicago and Jacksonville posted some of the stronger year-over-year price gains among major metros, while San Jose and Seattle recorded price declines of 4.6% and 3.1%, respectively. Across the 933 markets tracked by Homes.com, 64% posted annual price gains and 36% recorded declines, highlighting the increasing importance of understanding local market conditions.

Overall, June reflected a housing market that is becoming more balanced at the national level even as local markets continue to move in different directions. Buyers generally have more options than they did a year ago, but local market conditions continue to play an increasingly important role in determining outcomes for both buyers and sellers.


Dashboard-style graphic showing U.S. key housing indicators, median sale prices, listings, and home sales.
In June, US median sale price was $401,000, while the inventory of homes for sale increased to 1,413,338, and homes sales totaled 365,393.



National Sale Prices

The U.S. median sale price was $401,000 in June, rising from $395,000 one year earlier. The $6,000 increase in the median price amounted to a 1.5% annual gain.

US sale prices increase slightly from a year earlier as price growth moderates

National sale prices increased modestly over the past year. The U.S. median sale price rose 1.5% year over year in June 2026, reflecting continued price stability following the rapid appreciation seen in recent years.

Price growth of single-family homes outpaces other property types

National price trends varied by property type. Single-family homes posted 3.7% annual growth, adding $14,990 over the past year. Condo median sale prices increased 1.4%, or $5,000. Townhome prices fell by 0.7%, or $2,500, as compared to June 2025.

Price trends are geographically dispersed

Price growth was led by Pittsburgh (7.5%), San Francisco (7.2%), Jacksonville (6.7%), Cleveland (5.3%), and Chicago (5.3%). Similarly, price declines were geographically dispersed, including markets such as San Jose (4.6%), Seattle (3.1%), Raleigh (2.1%), and the Inland Empire (1.7%).


Chart showing the U.S. median home sale price and annual price change compared to 3 and 5 years ago as of June 2026.
U.S. home prices reached $401,000, rising 1.5% year-over-year, compared with an 6.9% three-year increase, and a 45.8% five-year gain totaling $130,100.


Bar chart of monthly median home sale prices in the U.S. from 2018 to 2026 as of June 2026.
The national median home sale price was $401,000 in June.


Area chart of U.S. annual median home price percent changes from 2018 to 2026 as of June 2026.
Atlanta home prices increased by 1.5% in June compared to the same month in 2025.


Bar chart of Atlanta annual median home price percent changes in each June from 2018 to 2026 as of June 2026.
U.S. home prices increased by 1.5% in June compared to the same month in 2025.


Horizontal bar chart of June 2026 prices across the 40 largest markets, ranging from $275,000 to $1.7 million, showing wide disparity.
The San Francisco median home price ranked first among the top 40 U.S. markets at $1,700,000 in June 2026. Oklahoma City ranked 40th, achieving a median sale price of $275,000. The U.S. median price of $401,000 ranked near the midpoint.


Bar chart ranking the 40 largest markets by median home sale price as of June 2026, highlighting wide regional performance differences.
San Francisco led June 2026 price growth at 7.5%, while San Jose and Seattle posted the largest declines, highlighting divergence across the top 40 markets.


Categorical chart showing share of top markets by price change, with most between 0% and 4%, indicating moderated growth.
Among the top 40 markets, 11 recorded a decrease in median sale price, 19 saw price growth of 0%-4%, and 10 saw increases above 4%.


Line chart showing the share of U.S. markets with rising prices and declining prices in June 2026.
Of the 933 markets tracked by Homes.com, 595, or 63.8%, reported higher prices in June 2026 than in the same month a year earlier.


U.S. map showing June 2026 state median price changes, with most states gaining 1% to 5% and only 10 exceeding 5%.
In June, 30 states saw price gains of 1% to 5%, while just 10 states exceeded 5% growth, reflecting moderate but widespread price increases.


Dashboard style chart of U.S. home prices and annual change by property type, showing annual percent change and nominal values for single-family homes, townhomes, and condos as of June 2026.
The median price of U.S. single-family homes increased by 3.7% to $414,990, while the median townhome price grew by 1.4% to $365,000, and the median condo price grew by 0.7% to $352,000.


Two horizontal bar charts showing U.S. home sale prices and the annual percent change in sale prices by property type as of June 2026.
The median price of U.S. single-family homes grew by 3.7% to $414,990, while the median townhome price grew by 1.4%, and the median condo price grew by 0.7%.


National Inventory

Inventory reached more than 1.4 million listings in June. Inventory increased in 71.2% of U.S. markets, signaling widespread supply growth.

US housing inventory climbs as homes for sale rise 4.2% nationwide

U.S. active listings totaled 1,413,338 in June, up 4.2% year over year. The growth reflected a recovery from the low levels seen after the pandemic. As more sellers returned to the market, widespread inventory gains pointed to more balanced supply conditions nationwide.

Inventory expands across property types, with single-family homes leading the way

Inventory increased across all property types nationally. Single-family homes accounted for the largest share of inventory growth, adding 46,149 homes for sale year over year. Townhomes and condos also saw increases, adding 6,226 and 4,396 homes for sale, respectively.

Inventory growth is widely distributed across US markets

Inventory growth extended across most of the country. Among the 40 largest U.S. markets, the fastest-growing inventory markets include Nashville (18.6%), Minneapolis (16.2%), Columbus, Ohio (15.3%), and St. Louis (14.5%). Inventory increased in 71.2% of the 933 markets tracked by Homes.com. Markets with the largest declines in homes available for purchase in May compared to a year ago were either in Florida (Jacksonville, Tampa, and Miami) or California (San Francisco and the Inland Empire).


Dashboard showing June 2026 U.S. active listings at 1.4 million, up 4.2% year-over-year, with strong multi-year inventory recovery.
Homes for sale totaled 1.4 million, up 4.2% year over year and 40.6% more than three years ago, a period marked by post-pandemic inventory shortages.


Bar chart of monthly homes for sale from 2018 to 2026 as of June 2026.
U.S. inventory increased by 4.2% year over year in June to 1,413,338 homes for sale.


Area chart showing the annual percent change of homes for sale from 2018 to 2026 as of June 2026.
U.S. inventory of homes for sale increased by 56,771 in June compared to the same period of last year, for a 4.2% annual increase.


Bar chart of homes for sale annual percent change in June from 2018 to 2026 as of June 2026.
U.S. homes for sale increased by 4.2% year over year in June 2026, compared to an 11.2% annual increase in June 2025.


Horizontal bar chart of June 2026 homes for sale by market, led by Houston, Dallas-Fort Worth, and Atlanta with the highest inventory levels.
Houston led the country with 40,715 homes for sale in June, followed by Dallas-Fort Worth at 37,264, and Atlanta at 34,149.


Bar chart of June 2026 inventory change by market, ranging from 18.6% growth to a negative 16.4%, showing regional divergence.
Nashville posted the fastest inventory growth at 18.6% in June 2026, while Jacksonville posted a 16.9% decline, highlighting wide variation across markets.


U.S. map showing active listings growth ranges across top 40 housing markets, with most seeing moderate increases.
Half of the top 40 markets (50%) posted inventory changes ranging from negative 2% to 12%, while an additional 25% posted gains of more than 11%, signaling a nationwide inventory expansion.
Line chart showing 71.3% of U.S. markets with rising inventory in June 2026, indicating broad-based supply increases.
The majority of the markets tracked by Homes.com (664 of 933, or 71.2%) recorded rising inventory in June compared to the same month a year ago.


Dashboard style chart of U.S. homes for sale and annual change by property type, showing annual percentage change and nominal values for single-family homes, townhomes, and condos as of June 2026.
Single-family homes drove inventory growth in June, accounting for 46,149 more homes for sale than in June 2025. Townhome listings grew by 6,226, and condo inventory increased by 4,396 compared to a year ago.


Two horizontal bar charts showing homes for sale and the annual percent change in homes for sale by property type as of June 2026.
Over the past year, single-family homes for sale increased by 4.3%. In comparison, townhome inventory increased by 6.7% and condo inventory rose by 2.2% over the same period.


National Home Sales

The U.S. recorded 365,393 sales in June, a 6.1% year-over-year increase, with 20,871 more closings than in June 2025.

Higher mortgage rates do not slow buyers as much as expected

Home sales grew slightly in June compared to a year ago, but the market held up better than many anticipated. More than 365,000 homes were sold nationwide, a 6.1% increase, even as mortgage rates climbed in April and May.

Home sales volume grows across all property types

Home sales volumes were mixed across property types. Single-family sales grew by 6.3%, or 17,979 homes, townhome sales saw a year-over-year increase of 3.9%, or 979 sales, and townhome sales posted a year-over-year increase of 5.6%, or 1,913 sales. Single-family homes accounted for the most transactions (303,777 sales), followed by 35,825 condos, and 25,791 townhomes nationwide.

Home sales increase in 36 of the largest 40 markets nationwide

Home sales activity increased in nearly all of the largest 40 U.S. markets. Sales volume increased significantly in cities such as San Francisco (27.8%), Miami (14.1%), and Las Vegas (12.5%). Meanwhile, the four markets that experienced a year-over-year decline were Atlanta (3%), Seattle (2.3%), Philadelphia (2.2%), and San Jose (1%), highlighting the uneven demand across the country. Sales patterns reflected buyers carefully responding to pricing, supply, and financing conditions on a market-by-market basis.


Dashboard showing June 2026 U.S. home sales at 365,393, up 6.1% year over year. Home sales are down 1.1% compared to 3 years ago and 10.6% from 5 years ago.
In June 2026, U.S. home sales totaled 365,393, rising 6.1% year over year. Home sales are down 1.1% compared to 3 years ago and down 0.6% from 5 years ago.


Bar chart of monthly home sales volume from 2018 to 2026 as of June 2026.
Home sales in the U.S. totaled 365,393 in June, 20,871 more than in June 2025.


Area chart showing the annual percentage change in U.S. home sales from 2018 to 2026, as of June 2026.
The number of homes sold in June was up 6.1% from the same month in 2025.


Bar chart of annual percent change in home sales in each June from 2018 to 2026, as of June 2026.
The 6.1% annual increase in the number of homes sold in June compares to a 5.5% increase in June 2025.


Horizontal bar chart of June 2026 home sales by market, with Chicago, Dallas, and Houston leading overall volume.
Chicago (10,821), Dallas–Fort Worth (8,997), and Houston (8,379) recorded the highest June sales volume among the top 40 largest markets.


Bar chart of June 2026 annual sales change by market, ranging from 27.8% gains to 3.0% declines.
Sales performance across the top 40 markets remained uneven. San Francisco recorded the largest gain of 27.8% in June 2026, while Atlanta posted the sharpest decline of 3%, highlighting varied market performance.


U.S. map categorizing the top 40 housing markets by June home sales change, showing mixed regional outcomes.
In June 2026, 53% of the top 40 markets recorded sales changes between 1% and 10%, while only 23% saw gains above 10%.


Line chart showing 65.4% of U.S. markets with rising home sales in June 2026, indicating balanced growth and decline.
Sales increased in 65.4% of U.S. markets in June 2026 and declined in only 34.6%.


Dashboard style chart of Washington home sales volume and annual change by property type, showing annual percent change and nominal values for single-family homes, townhomes, and condos as of June 2026.
Nationwide, 303,777 single-family home sales closed in June, followed by 25,791 townhome sales, and 35,825 condo sales.


Grouped bar chart showing U.S. home sales volumes and annual percent change by property type.
Single-family home sales reached 303,777 in June 2026, up 6.3% year-over-year, while townhome sales increased 3.9% and condo sales increased 5.6%.


For questions and commentary about this report:

Erika Ludvigsen, National Director of Residential Analytics at CoStar and Homes.com, based in Atlanta, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Erika Ludvigsen

National Director of Residential Analytics

Homes.com

eludvigsen@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation, inventory changes, and sales volume during June 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

About Homes.com

The Homes.com Network is the fastest-growing residential real estate marketplace and the second largest in the United States. Homes.com is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.

Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com’s unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com’s Members gain $36,400 in commission in their first year* because they offer the home sellers a real estate portal that works for them not against them.

The Homes.com Network reached an audience of 108 million average monthly unique visitors in 2025** and organic traffic to Homes.com was up more than 100% year over year every month of the first quarter of 2026. For more information, visit Homes.com.

About CoStar Group

CoStar Group (NASDAQ: CSGP), an S&P 500 company, is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted 131 million average monthly unique visitors in the first quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

Matthew Blocher

CoStar Group

(202) 346-6775

mblocher@costar.com


Writer
Erika Ludvigsen

Erika Ludvigsen is the National Director of Residential Analytics for CoStar and Homes.com, where she delivers insight on the U.S. housing market by analyzing Homes.com’s residential datasets alongside broader economic and demographic trends. She brings deep expertise in new construction, having previously led the national market intelligence team at PulteGroup, and has held roles at BlackRock, Century Communities, and Elme Communities. With more than 15 years in real estate market analytics, she holds a finance degree from Georgetown University and regularly speaks on residential real estate at major industry events, including IMN’s Land/Homebuilding Capital Markets Forum and the International Builders’ Show (IBS). Her work has been featured in The Wall Street Journal and RISMedia.

Read Full Bio